[Audio] Episode 277 -- The Murad OFAC Settlement and Sanctions Compliance Lessons
JD Supra: Mergers
JUNE 4, 2023
Over an eight-year period ending in 2018, Murad, a U.S. cosmetics company, illegally exported goods and services to Iran in 62 separate transactions worth approximately $11 million. Murad was acquired by Unilever United States (“Unilever”) in 2015. Once discovered, Unilever voluntarily disclosed the conduct to OFAC. The fallout from Murad’s long-running conspiracy: Unilever paid $3.3 million to OFAC for its Iran Sanctions violations.
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